Jeffrey Frankel, The US Recovery Turns Ten
(Project Syndicate, June 14, 2019)
Maybe a bit of a dry read, but essential to understand what’s going on and how deceptive comparisons can be. According to the Harvard professor, the best explanation for the current ten-year US economic expansion is disappointingly simple: the Great Recession was the worst downturn since the 1930s. And if the dates of American business cycles were determined by the rule that most other countries apply, the current expansion would be far from beating the record (7-8 min. read).
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François Delattre, The World Grows More Dangerous by the Day
(The New York Times, June 11, 2019)
These are the parting thoughts of the French UN ambassador as he leaves America. He says it as he sees it: “The world is growing more dangerous and less predictable by the day” and “We are now in a new world disorder. The three main safety mechanisms are no longer functioning: no more American power willing to be the last-resort enforcer of international order; no solid system of international governance; and, most troubling, no real concert of nations able to re-establish common ground”. Hard to disagree! (Reads in 6-7 min).
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